Monopsony

What does NCAA v. Alston Tell Us About Antitrust and Labor Markets?

The Supreme Court's recent ruling against the NCAA and in favor of student-athletes may seem narrow or trivial, but the Court's acknowledgement...

Three Steps the Biden Administration Should Take to Tackle America’s Monopoly Problem

The Biden Administration can revive federal antimonopoly enforcement after 40 years of little action, even when faced with congressional opposition. Here’s how. 

The Judiciary Antitrust Subcommittee Has Charted a Course for President-Elect Biden: He Should Follow It

Real antitrust reform of the kind offered by the Judiciary Antitrust Subcommittee is needed to assist enforcers in precisely the types of...

The Darkest Side of Monopsony: The South Korean Case

"Chaebols”, large business groups controlled by founder families, are usually considered a crucial ingredient of South Korea's economic miracle. But after a process of...

Antitrust’s Monopsony Problem

Four cases from the past decade alleging employer collusion against workers show that at present, antitrust law is ill-equipped to protect workers. A root...

Banning Noncompete Agreements Benefits Low-Wage Workers

Examining the effects of a 2008 ban on noncompete agreements for low-wage workers in Oregon, a recent paper finds that the ban increased average...

How Amazon's Pricing Policies Squeeze Sellers and Result in Higher Prices for Consumers

Amazon's price matching policies, which were meant to ensure its dominant position, diminished the ability of brands to control how their products are distributed...

Restoring Antimonopoly Through Bright-Line Rules

The “consumer welfare” approach to antimonopoly is the main contributor to the extreme and dangerous concentrations of power that Americans face today. In place...

Regulators Should Not Change the Regulatory Environment to Include Labor Market Concentration

Research has shown that labor markets with higher levels of labor market concentration have lower wages. It does not necessarily follow that regulators should...

Why Local Labor Market Concentration Is Lower Than It Used to Be, Even As National Concentration Increases

A new study compares the trends in national and local industrial concentration between 1976 and 2015, and explains why they diverged. The idea that firms...

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The Aristocracy of Talent: Business Intelligence

In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...

Why Privacy Experts Need a Place at the Antitrust Table

Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital...

Assessing George Stigler’s Economic Theory of Regulation

Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...

“Old Chicago” and Freiburg: Why Ordoliberalism Was No “German Oddity”

Both the Chicago and Freiburg schools faced systemic fragility as the crucial property of societal orders. It was this fragility that served...

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a...